Payment of Proceeds. Borrower shall forthwith upon receipt of all proceeds of Collateral, pay such proceeds (insurance or otherwise) over to Lender for application against the Obligations in such order and manner as Lender may elect.
Appears in 7 contracts
Samples: Loan and Security Agreement (Emagin Corp), Loan and Security Agreement (Emagin Corp), Loan and Security Agreement (XZERES Corp.)
Payment of Proceeds. Borrower shall forthwith upon receipt of all proceeds Proceeds of Collateral, pay such proceeds Proceeds (insurance or otherwise) up to the amount of the then-outstanding Obligations over to Lender for application against the Obligations in such order and manner as Lender may elect.
Appears in 6 contracts
Samples: Loan and Security Agreement (Sysorex Global), Loan and Security Agreement (Greenwood Hall, Inc.), Loan and Security Agreement (Mint Leasing Inc)
Payment of Proceeds. Borrower shall forthwith upon receipt of all proceeds of Collateral, pay such proceeds (insurance or otherwise) up to the amount of the then-outstanding Obligations over to Lender for application against the Obligations in such order and manner as Lender may elect.
Appears in 5 contracts
Samples: Loan and Security Agreement (Valence Technology Inc), Loan and Security Agreement (Reeds Inc), Loan and Security Agreement (Elio Motors, Inc.)
Payment of Proceeds. Borrower shall forthwith upon receipt of all proceeds of Collateral, pay such proceeds (insurance or otherwise) over to Lender for application against the Obligations in such order and manner as Lender may elect.
Appears in 1 contract
Samples: Loan and Security Agreement (Intek Diversified Corp)
Payment of Proceeds. Borrower shall forthwith upon receipt of all any proceeds of Collateral, pay such proceeds (insurance or otherwise) up to the amount of the then-outstanding Obligations over to Lender for application against the Obligations in such order and manner as Lender Agent may elect.
Appears in 1 contract
